What are Capital Credits?
- As a member consumer of an electric cooperative, you and your fellow member consumers own the electric company that serves you. One benefit of ownership is capital credits.
- Since the Cooperative operates on a not-for-profit basis, all of the margins are returned to our member-consumers in the form of capital credits, an investment in each owner’s name.
- What are margins? Members pay into the cooperative through rates. Our electricity rates cover:
- Operating expenses: rates are set to meet the daily operational costs of providing electricity
- Loan Payments: They contribute to the repayment of existing loans
- Emergency Reserve: A portion is allocated for unforeseen emergencies, safeguarding the cooperative’s financial stability
- What are margins? Members pay into the cooperative through rates. Our electricity rates cover:
- These capital credits form the bulk of the cooperative’s equity and is a measure of its financial strength.
- The funds are used as working capital to build the facilities needed to serve you and future member-consumers.
Idaho County Light and Power Cooperation is a not-for-profit electric cooperative. If you receive electric service from ICL&P, you are a member of the cooperative.
One of the benefits of being a member is patronage capital credits. Patronage capital credits come from margins, or money left over at the end of the year after all expenses have been paid. These margins are allocated to each member's capital credits account based on how much electricity the member purchased that year. The allocated margins are retained and used by ICL&P for operating capital. This reduces the amount the cooperative has to borrow.
Each year, the Board of Directors determines if the cooperative is financially able to pay prior years' capital credits back to the members. When so approved, the cooperative refunds designated prior years' capital credits, by check to inactive accounts or a credit to active accounts, to members who used electricity during the designated years.
Even if you move and are no longer a member of the cooperative, the capital credits remain in your account. Be sure to update your address with ICL&P if you move, so we can send future capital credit checks to the correct address.
In accordance with Idaho Code and the By-Laws of the cooperative, the Unclaimed List is a list of members who have not claimed their Capital Credit retirement authorized by the board of Directors of Idaho County Light & Power Cooperative Association, Inc., and is due to them.
Any person included in the list or any person possessing a valid interest in the unclaimed property of someone included in the list may contact the cooperative for information regarding the unclaimed property by phoning the Cooperative at (208) 983-1610 or toll free at (877) 212-0424; by sending written request to the mailing address: PO Box 300, Grangeville, ID 83530-0300; or by personally appearing at the cooperative's office located at 1065 Highway 13, Grangeville, ID 83530.
All unclaimed property is held by the Cooperative in compliance with Idaho Unclaimed Property Act. Members or their heirs may request the unclaimed property and assignment of any remaining Capital Credits on the books of the Cooperative by submitting the Application for Transfer of Capital Credits, completed and notarized, to the Cooperative at the address shown above.
We have our current Unclaimed List updated as of December 8, 2023. If you see your name on the list, please contact the office at (208) 983-1610.